Institutions and economic performance read the article on


Question: Institutions and economic performance: Read the article on institutions by Mancur Olson, cited in footnote 10. (You may be able to find it on the Web by typing the author's name and a few words from the title into Google Scholar.) The last sentence of that paper says that "individual rationality is very far indeed from being sufficient for social rationality." What does Olson mean by this statement?

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Microeconomics: Institutions and economic performance read the article on
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